Agrello - Realizing the Vision of Legally-Binding Smart Contracts on the Blockchain

Agrello is finally realizing the Vision of Legally-Binding Smart Contracts on the Blockchain

What is Agrello?
Agrello develops an AI powered interface, allowing you to easily create and manage smart-contract-based agreements which are legally binding, just like traditional contracts.
Agrello is highly end-user oriented and enables anyone to create smart-contracts. No coding or legal skills required.

How does it work?
Set up an agreement with a few clicks
Agrello provides a graphical interface, templates and wizards, allowing you to readily draft legally-binding multi-party contracts. A few clicks, and all terms and conditions are set in place.
Your agreement is then automatically translated to smart-contract code and stored on the blockchain, with payments, obligations and rights triggered automatically according to the contracts terms and user input. In parallel, a legally binding document is created, written in natural legal English, and signed off digitally. This Document can, in corner cases, be presented to court if traditional legal action is needed. All Agrello agreements are immutable, yet open to adjustment and future renegotiation.

Manage contracts with the power of AI
Throughout the contract’s life cycle, an AI counselor guides you through your agreement and notifies you on your legal obligations and rights.
At any stage you remain in control of your privileges and duties, able to wave and manage them according to the potential benefits and consequences, as presented to you by your AI counselor. This way, simple p2p agreements, as well as complex, multi-party business processes can be automated and orchestrated at a fraction of the standard legal and operational costs.
Realize the vision of legally-binding smart contracts on the blockchain
With Agrello, smart contracts can be used, for the first time, as a viable legal instrument to streamline businesses and enable an accessible P2P sharing economy.

A P2P Sharing Economy
With Agrello, sublets, car pools, and commodity sharing are easily set in action and legally protected with a few clicks. Freelancers, contractors, and small business owners can formalize long and short term business relations without having to carry legal expenses.
All payments and obligations are triggered automatically on the blockchain, while agreements remain open to future re-negotiation. Involvement of legal personnel and courts is reduced to an absolute minimum if not completely obviated.

High-end Business automation
Agrello smart agreements allow you to set up and manage high-end corporate business process at a fraction of the traditional costs.
Automate and orchestrate global and complex Just-In-Time production flows, streamline HR allocation and salary negotiation, use code based agreements to automate cost/benefit calculations, rationalize and reallocate automatically while considerably reducing administerial and bookkeeping expenses.

Why build on Qtum?
Agrello is highly end-user oriented and seeks to provide an easy to use platform that can run on any major device, including mobile phones and tablets. Agrello users will not have to bother with setting up blockchain nodes or heavyweight environments, and the Qtum blockchain enables us to provide this plug-and-play user experience.

Agrello, an Estonian blockchain startup developing business-ready smart contract solutions, has announced that it has selected the Qtum blockchain as its infrastructure of choice for the company’s AI powered smart contract interface.

Agrello develops an intuitive AI powered interface, allowing users with no legal or coding skills to easily create, manage, and automate legally binding smart agreements which are both – stored as smart contracts on the blockchain, as well as translated to legally biding documents in natural English.

According to Agrello, their solution will allow individuals and businesses to use smart contracts as a substitute and enhancement to standard paper contracts – a practice until recently regarded as impossible due to the complicated and obfuscated nature of smart contract technology.

Hando Rand
Explaining the company’s choice, Hando Rand, Agrello Project Lead and co-founder stated: “We’ve been searching for over a year to find a blockchain platform that would fit our needs. Qtum allows us to build a mobile-compatible and scalable smart contract solution, and hence is our technology of choice.”

Agrello’s decision to base its technology on Qtum was announced Wednesday in Shanghai, at an Qtum event. The Qtum project has recently raised $15.6 million in one of the industry’s fastest token crowd-sales to date, and seeks to open its platform for public use in Q3 this year.

Agrello, a blockchain startup developing artificial-intelligence ( AI ) powered smart contract solutions, has selected the Qtum blockchain as the infrastructure for its smart contract interface, The announcement was made in Shanghai this week.

The Estonia-based company's purported business case is that its interface allows users with no coding skills to create and manage automated smart contracts that will be stored and secured on the Qtum blockchain while being translated into documents in natural English. According to Agrello, their solution will allow individuals and businesses to use smart contracts as a substitute for and enhancement to standard paper contracts.

Speaking with Bitcoin Magazine , Co-founder and CEO of Agrello Hando Rand described his path from doing early research on what had not yet been termed "smart contracts" at Tallum University of Technology. He was "blown away" when Ethereum was first announced as he realized that blockchain technology could be the means for his work to become reality.

Rand said of the choice to build on Qtum that his team has been "searching for over a year to find a blockchain platform that would fit our needs. Qtum allows us to build a mobile-compatible and scalable smart contract solution, and hence is our technology of choice."

Qtum Co-Founder and CEO Patrick Das weighed in on the news to Bitcoin Magazine, "Qtum aims to build the first POS smart contract platform that is mobile supported; we welcome more and more startups to build applications on Qtum platform in the future."

The professional legal view of smart contract technology and its potential applications in the field trends positive, and several U.S. states have passed regulations confirming smart contract applications over the last year, while formally defining what they deem smart contracts to be.

In 2016 the state of Vermont passed a law providing that a blockchain-based digital record will be considered a business record under the Vermont Rules of Evidence; just this April the state of Arizona passed a law confirming that smart contracts managed on the blockchain are considered electronic records. The Arizona law defines smart contracts as an "event driven program, with state, that runs on a distributed, decentralized, shared and replicated ledger that can take custody over and instruct transfer of assets on that ledger."

Agrello's AI smart contract interface corresponds with Qtum's Smart Contract Lifecycle Management solution, detailed in Qtum's whitepaper , which proposes a workflow to derive smart contract code from human-readable agreements and manage them in real time.The Qtum project, with management support from PWC, raised $15.6 million this March, and plans for its platform to be ready for public use in Q3 of this year.